14 October 2015
Rare Earth Minerals plc
("REM" or the “Company")
Admission Application Announcement
The Directors of Rare Earth Minerals Plc (AIM:REM) are pleased to announce that the Company has applied for
the admission of its issued 6,815,653,495 ordinary shares of 0.01p each to the ISDX Growth Market. The
Company’s registered office is Suite 3B, 38 Jermyn Street, London SW1Y 6DN. The information in this RNS is
included for the purposes of the admission to ISDX.
The expected Date of Admission to ISDX is 28 October 2015.
Company Information
REM is an investment company which is admitted to trading on AIM. The Company’s investing policy is to acquire
a diverse portfolio of direct and indirect interests in exploration and producing rare earth minerals and/or other
metals projects and assets. In light of the nature of the assets and projects that will be the focus of the Investing
Policy, the Company will consider investment opportunities anywhere in the world.
REM’s current investments include:
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

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a 17.02% holding in Bacanora Minerals Ltd (“Bacanora”);
A 30% direct interest in Megalit SA de CV (“Megalit”) and Mexilit SA de CV (“Mexilit”); Megalit and
Mexilit together own ten mining concessions in the Sonora Lithium Project. The remaining 70% of
Megalit and Mexilit is owned by Bacanora. When REM's ownership of 17.02% of Bacanora is aggregated
with REM's 30% direct interest of the companies that hold the ten mining concessions, REM has a
41.91% economic interest in these assets;
a 30% free carried interest to bankable feasibility study on the Yangibana Rare Earth Minerals Project,
Australia;
a 9.79% interest in the Cinovec Ltihium and Tin Deposit, located on the German border; and
an approximate 1.1% interest in Western Lithium USA Corp (“Western Lithium”), which owns the Kings
Valley Lithium Project in Nevada and the Cauchari - Olaroz Project in Argentina (as a result of the recent
merger with Lithium Americas Corp.).
Details of Directors
The full names of the Directors of the Company and positions are as follows:
David Lenigas, Executive Chairman
David Lenigas has extensive experience operating in global public markets having served in a senior executive
capacity on many public company boards.He has a Bachelor of Applied Science (Mining Engineering) from Curtin
University's Kalgoorlie School of Mines. Mr Lenigas has extensive operational and corporate experience in
managing companies within the oil and gas, gold, coal and other natural resources sectors. Mr Lenigas is the
Chairman of both the Audit and Remuneration Committee. He is currently the executive chairman of AfriAg plc
and Evocutis plc, a non-executive chairman of Inspirit Energy plc and a non-executive director of Bacanora
Minerals Ltd
Donald Strang, Finance Director & Company Secretary
Mr Strang is a member of the Australian Institute of Chartered Accountants and has been in business over 20
years, holding senior financial and management positions in both publicly listed and private enterprises in
Australia, Europe and Africa. Mr Strang has considerable corporate and international expertise and over the past
decade has focussed on mining and exploration activities. He is currently the finance director of, Solo Oil plc ,
AfriAg plc, and UK Oil & Gas Investments plc, an executive director of Evocutis plc, and the executive chairman
of Polemos plc, Doriemus plc and Stellar Resource plc
Kiran Morzaria, Director & Chief Executive Officer
Mr. Morzaria holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an
MBA (Finance) from CASS Business School. He has extensive experience in the mineral resource industry working
in both operational and management roles. Mr. Morzaria spent the first four years of his career in exploration,
mining and civil engineering. He then obtained his MBA and became the Finance Director of Vatukoula Gold
Mines Plc. He has served as a director of a number of public companies in both an executive and non-executive
capacity, he is a non-executive director of Bacanora Minerals Ltd.
Adrian Fairbourn, Non-Executive Director
Mr Fairbourn began his career as an investment analyst before moving to build and manage the highly successful
alternative fund-of-funds operation at the Bank of Bermuda, prior to the purchase of the bank by HSBC. For the
four years up to 2007 he co-managed a multi-family office in London, responsible for hedge fund investments,
direct investments and also asset-raising for co-investment opportunities. He has successfully assisted in over
$1billion of structuring, capital and fundraising projects for several private companies and alternative funds.
Since starting Exception Capital, Mr Fairbourn spent two years in Shanghai working on a number of company
specific situations and helping lift out the Chinese Private Equity team from Temasek, the Singapore Government
Sovereign Wealth Fund, into their own entity from where they raised $950m for their first fund. Now back in
London, Mr Fairbourn is working on a number of opportunities as well as managing the family assets for a high
net worth Italian family.
Andrew Suckling, Non-Executive Director
Mr Suckling is the founding principal and portfolio manager for Verulam, a discretionary commodity fund with
focus on metals. Prior to founding Verulam, from 2000 - 2008, Mr. Suckling was a founding partner, research
analyst and trader with Ospraie Management, LLC and its predecessor Fund with Tudor Investment Corporation.
Mr. Suckling's 21 years' experience in the commodity industry began in 1994 as a Trader with London Metal
Exchange Ring dealing member, Metallgesellschaft (MG). In that role, Mr. Suckling established a trading
presence in China for MG setting up a representative office in Shanghai in 1997 -1998. Mr. Suckling is a graduate
of Brasenose College, Oxford University earning a BA (Hons) in Modern History in 1993 and an MA in Modern
History in 2000.
Sector Classification
REM will be classified as financial services company on ISDX.
Shareholder Information
Shareholder
BARCLAYSHARE NOMINEES LIMITED
Number of
Shares
758,124,907
%
Shareholding
11.12%
HARGREAVES LANSDOWN (NOMINEES) LIMITED Des:15942
559,970,846
8.22%
HSDL NOMINEES LIMITED
411,551,534
6.04%
TD DIRECT INVESTING NOMINEES (EUROPE) LIMITED Des:SMKTNOMS
400,933,155
5.88%
HARGREAVES LANSDOWN (NOMINEES) LIMITED Des:VRA
389,385,586
5.71%
JIM NOMINEES LIMITED Des:JARVIS
337,303,134
4.95%
HSDL NOMINEES LIMITED Des:MAXI
290,471,565
4.26%
TD DIRECT INVESTING NOMINEES (EUROPE) LIMITED Des:SMKTISAS
282,936,480
4.15%
FOREST NOMINEES LIMITED Des:GC1
282,319,190
4.14%
HSBC CLIENT HOLDINGS NOMINEE (UK) LIMITED Des:731504
266,371,102
3.91%
HARGREAVES LANSDOWN (NOMINEES) LIMITED Des:HLNOM
257,218,724
3.77%
INVESTOR NOMINEES LIMITED Des:NOMINEE
213,593,475
3.13%
4,450,179,698
65.29%
Total Significant Shareholders
David Lenigas, Donald Strang, Adrian Fairbourn and Kiran Morzaria each hold options in the Company, as set out
below. David Lenigas holds 7,000,000 Ordinary Shares in the Company and Kiran Morzaria holds 5,000,000
Ordinary Shares in the Company.
Director
D Lenigas
D Lenigas
Date of grant
28 January 2010
(amended 14
December 2012)
30 November 2010
(amended 14
December 2012)
Exercise price
Number of options
0.06p
14,000,000
0.06p
30,000,000
44,000,000
A Fairbourn
A Fairbourn
13 December 2012
21 May 2014
0.06p
0.48p
20,000,000
40,000,000
60,000,000
D Strang
21 May 2014
0.48p
60,000,000
60,000,000
K Morzaria
21 May 2014
0.48p
60,000,000
60,000,000
The percentage of securities in public hands (as defined in the ISDX Growth Market Rules for Issuers) is 58.86%.
The percentage of securities not in public hands is 41.14%. There are no restrictions on the transfer of REM’s
securities.
Further Information
REM was admitted to trading on AIM on 24 March 2005 as Zest Group plc (“Zest”); a copy of the admission
document dated 17 March 2005 is available on the Company’s website, www.rareearthmineralsplc.com. On 29
November 2010, the Shareholders approved and adopted an Investing Policy to acquire direct and indirect
interests in exploration, development and producing Rare Earth Minerals and/or Metals projects and assets. In
line with its new investing policy the Company changed its name to Rare Earth Minerals plc. Trading as Zest, the
Company had previously held certain recording and publishing rights in the music industry.
The Company will remain admitted to trading on AIM following admission to ISDX. Its ordinary shares are eligible
for CREST settlement. The Company is subject to the UK City Code on Takeovers and Mergers.
David Lenigas, Executive Chairman, commented:
“We are seeking admission to ISDX as a means of further increasing liquidity and trading options for our
shareholders and creating an additional platform on which to promote the Company’s growth”.
The directors of Rare Earth Minerals Plc accept responsibility for this announcement.
Registered Address of Applicant
Rare Earth Minerals plc
38 Jermyn Street
London
SW1Y 6DN
Telephone +44 (0)20 7440 0647
www.rareearthmineralsplc.com
Corporate Adviser and Contact Details
WH Ireland Ltd
11 St James's Square
Manchester
M2 6WH
James Joyce/ Mark Leonard
Telephone: +44 (0)20 7220 1666
- Ends For further information please contact:
Rare Earth Minerals plc
David Lenigas
Kiran Morzaria
+44 (0) 207 440 0647
WH Ireland Limited (NOMAD & Broker)
James Joyce
Mark Leonard
+44 (0) 207 220 1666
Square1 Consulting
David Bick
Mark Longson
+44 (0) 207 929 5599